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Germany stocks lower at close of trade; DAX down 7.89%

Published 03/09/2020, 02:15 PM
Updated 03/09/2020, 02:15 PM
© Reuters.  Germany stocks lower at close of trade; DAX down 7.89%

© Reuters. Germany stocks lower at close of trade; DAX down 7.89%

Investing.com – Germany stocks were lower after the close on Monday, as losses in the Basic Resources, Chemicals and Insurance sectors led shares lower.

At the close in Frankfurt, the DAX lost 7.89% to hit a new 52-week low, while the MDAX index lost 6.70%, and the TecDAX index fell 6.66%.

The best performers of the session on the DAX were Beiersdorf AG O.N. (DE:BEIG), which fell 2.83% or 2.800 points to trade at 95.980 at the close. Meanwhile, Deutsche Boerse AG (DE:DB1Gn) fell 3.78% or 5.550 points to end at 141.400 and Fresenius Medical Care KGAA ST (DE:FMEG) was down 3.94% or 2.720 points to 66.380 in late trade.

The worst performers of the session were Deutsche Bank AG NA O.N. (DE:DBKGn), which fell 12.41% or 0.841 points to trade at 5.935 at the close. Daimler AG NA O.N. (DE:DAIGn) declined 12.23% or 4.265 points to end at 30.595 and Covestro AG (DE:1COV) was down 11.52% or 3.780 points to 29.040.

The top performers on the MDAX were LEG Immobilien AG (DE:LEGn) which fell 1.74% to 110.000, Qiagen NV (DE:QIA) which was down 1.79% to settle at 36.190 and Zalando SE (DE:ZALG) which lost 2.20% to close at 36.87.

The worst performers were Siltronic AG (DE:WAFGn) which was down 15.68% to 63.660 in late trade, Commerzbank AG O.N. (DE:CBKG) which lost 14.63% to settle at 3.675 and Thyssenkrupp AG O.N. (DE:TKAG) which was down 13.55% to 6.003 at the close.

The top performers on the TecDAX were Qiagen NV (DE:QIA) which fell 1.79% to 36.190, RIB Software AG Na (DE:RIB) which was down 1.82% to settle at 27.000 and Sartorius AG VZO O.N. (DE:SATG_p) which lost 4.61% to close at 203.000.

The worst performers were Siltronic AG (DE:WAFGn) which was down 15.68% to 63.660 in late trade, Nordex SE O.N. (DE:NDXG) which lost 14.38% to settle at 8.990 and Varta AG (DE:VAR1) which was down 12.93% to 60.600 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 698 to 33 and 17 ended unchanged.

Shares in Daimler AG NA O.N. (DE:DAIGn) fell to 5-year lows; falling 12.23% or 4.265 to 30.595. Shares in Covestro AG (DE:1COV) fell to 3-years lows; down 11.52% or 3.780 to 29.040. Shares in Commerzbank AG O.N. (DE:CBKG) fell to 5-year lows; falling 14.63% or 0.630 to 3.675. Shares in Thyssenkrupp AG O.N. (DE:TKAG) fell to all time lows; falling 13.55% or 0.941 to 6.003.

The DAX volatility index, which measures the implied volatility of DAX options, was up 37.39% to 54.93 a new 5-year high.

Gold Futures for April delivery was up 0.02% or 0.35 to $1672.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April fell 22.36% or 9.23 to hit $32.05 a barrel, while the May Brent oil contract fell 22.22% or 10.06 to trade at $35.21 a barrel.

EUR/USD was up 1.39% to 1.1442, while EUR/GBP rose 0.82% to 0.8724.

The US Dollar Index Futures was down 0.99% at 94.983.

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